Gilead Sciences (NASDAQ:GILD) Releases Earnings Results, Beats Expectations By $0.44 EPS

Gilead Sciences (NASDAQ:GILD) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44, Briefing.com reports. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Gilead Sciences updated its FY24 guidance to $4.25-4.45 EPS and its FY 2024 guidance to 4.250-4.450 EPS.

Gilead Sciences Stock Up 6.8 %

NASDAQ GILD traded up $6.21 during trading on Thursday, reaching $97.90. The company’s stock had a trading volume of 14,387,191 shares, compared to its average volume of 7,046,615. The business has a 50-day moving average price of $84.58 and a 200-day moving average price of $74.67. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $98.32. The stock has a market capitalization of $121.88 billion, a PE ratio of 119.39, a PEG ratio of 3.13 and a beta of 0.17. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Insider Activity

In related news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,437 shares of company stock worth $5,374,825. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on GILD. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Cantor Fitzgerald lifted their price target on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets raised their price objective on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird boosted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.05.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.